Views of Mr. Shrenik Gujrathi (Sr. Research Analyst - Cement, Angel Broking) on Mangalam Cement 1QFY2016 Results:
"For 1QFY2016, Mangalam Cement reported a disappointing set of numbers on all parameters. The Net sales declined by 7.3% yoy to INR 213.4cr, and were below our estimate of INR 217.8cr. The company reported EBITDA loss of INR 2.1cr as against our estimated profit of INR 7.8cr. The sharp cut in EBIDTA was mainly due lower than expected revenue number and 28% yoy increase in other expenses. The net profit declined sharply by 245.4% yoy to loss of INR 18.8cr due to higher depreciation and interest cost on account of new capacity addition. The net loss was above our estimated loss of INR 7.3cr. As of now we have BUY rating on the stock with target price of INR 349, we will revisit our number post management interaction."
Shares of MANGALAM CEMENT LTD. was last trading in BSE at Rs.238.5 as compared to the previous close of Rs. 249.1. The total number of shares traded during the day was 22369 in over 699 trades.
The stock hit an intraday high of Rs. 250 and intraday low of 236. The net turnover during the day was Rs. 5396815.